Fuel prices continue to fall

Petrol and diesel prices in the UK have reached the lowest level in five years, as UK supermarkets are further reducing fuel prices.

The price cuts follow falls in the price of Brent crude oil to around $55 a barrel.

The big four UK supermarkets have all announced 2p/litre price cuts, with Asda committing to its national pricing of 'no more than' 105.7p/litre for petrol, and 112.7p/litre for diesel.

Andy Peake, Asda's petrol trading director, said: "No matter where customers live, they will benefit from the same fuel price with our national price cap of 105.7ppl for unleaded and 112.7ppl for diesel.”

RAC fuel spokesman Simon Williams said: “With the average price of petrol already at levels not seen since January 2010, this latest cut will send the average price (112p) even lower, which is more great news for the motorist as millions head back to work following the festive holiday.

“We think there is still more room to cut further, perhaps by as much as 5p to 6p by the end of January.

“We would expect other retailers to follow Asda’s example which would bring us ever closer to the £1 per litre average for petrol which the RAC said last month could be a possibility for the start of the new year. 

"Of course it would also be an extremely welcome move for motorists and businesses alike.”

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